Article Text
DENVER BANK IS CLOSED BY PANIC Colo., The National its officers
Denver National Bank (Denver, CO)
Episode Information
- Episode UID
326901509- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
32690national - Charter Number
- 3269
- Start Date
- September 20, 1925
- Location
- Denver, Colorado (39.739, -104.985)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
39bf061ae7291c83
Response Measures
Partial suspension, Full suspension, Books examined
Description
Articles record at least two 1925 episodes: a Sept. closing blamed on false rumors and a Dec. run that led to examiners taking charge; final disposition unclear in these stories.
Events (4)
1.
November 26, 1884
Chartered
- Source
- historical_nic
2.
September 20, 1925
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- Bank closed by its officers because of a run prompted by false rumors about its condition.
- Newspaper Excerpt
- False Rumors Cause Closing of Bank
- Source
- newspapers
3.
December 18, 1925
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Heavy withdrawals and widespread rumors in Denver provoked runs on multiple banks including the Denver National.
- Measures
- Police controlled crowds; banks turned customers away and limited access.
- Newspaper Excerpt
- A heavy run developed this morning ... Rumors were afloat all over town and a serious situation was developing with withdrawals increasing at many banks.
- Source
- newspapers
4.
December 18, 1925
Suspension
- Cause
- Government Action
- Cause Details
- Books and operations were turned over to state and federal bank examiners after runs and reports of frozen loans.
- Newspaper Excerpt
- Yesterday the Denver National ... was placed in the hands of federal and state examiners.
- Source
- newspapers
Newspaper Articles (4)
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Article Text
False Rumors Cause Closing of Bank Colo., Sept. the Associated Globe tional bank of Denver was closed by its officers today. It was capitalized at This action was officers because of run the bank by the of false its condition Herman B. Gates, former state treasurer the bank, in York officers completing details for the which recently was with the Home Savings Trust company sent the aminer quarters at officers asked that bank examiner be sent to take charge Sept. the chief examiner the for Tenth federal reserve said here today that he placed H national bank charge Denver was closed by offitoday Roberts stated that closing of bank was its cently Home Savings Trust in extremely precarious The bank. had total sources of between and 000,000
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Article Text
RUN ON DENVER BANKS FORCES 5 CLOSE DOORS FROZEN LOANS BLAMED; BOOKS TURNED OVER TO STATE BANK EXAMINERS [By United Press] DENVER. Colo., Dec. 18.-Five banks have closed their doors in Denver within two days. The Metropolitan State Bank and Capitol Hill today failed to open its doors. Yesterday the Denver National, Broadway National, and the North Denver State Bank all were placed in the hands of federal and state examiners. James E. Adams, president of the Metropolitan bank said today that the bank had been turned over to state examiners at his request. The Metropolitan several weeks ago, according to Adams, had deposits of $400,000 and since that time they have been reduced. to about $100,000. "In view of the bad banking situation here and to protect the interests of our depositors," he said, "we deemed it advisable to turn the bank over to state officials." Heavy Run Develops A heavy run developed this morning when the Central Savings Bank and Trust company opened its doors. It was estimated that 500 persons were waiting in the street in front of the bank. Police were in charge of the crowd and only a few were let into the bank at time. Rumors were afloat all over town and a serious situation was developing with withdrawals increasing at many banks. The Capitol Hill state bank was put in the hands of state examiners shortly after opening this morning when a crowd was found waiting to withdraw their accounts. This makes five banks with closed doors.
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Article Text
CLOSING OF FIVE BANKS HARD BLOW TO DENVER All Sorts of Rumors Said to Be Afloat in Colorado City CHRISTMAS BUSINESS IS STANDSTILL Police Called to Preserve Order When Run Is Started on Bank (United Press Leased Wire) Colo., Dec. local bankers and financiers were conference today to devise some means bring an end to the sitnation here that has caused the closing of five banks within two days, hundreds depositors exchanged rumors and discussed their Christmas outlook with their money tied in the closed up The series of bank closings startyesterday when the Drovers National bank. the National bank and the North Denver State closed their doors. Today the Metropolitan State and the Capitol Hill State banks failed to open. The Central Savings bank and Trust company took advantage of law making it give sixty days' notice before their savings accounts. The total amount of deposits tied in the five banks which have closed approximates The greatest excitement prevailed here today that has been seen for Business the Christmas shopping season felt sharply the financial condition. Many persons could not get their refused to spend. front of the Central Savings Trust company, where 500 perthere was much excitement and police were called to order believed that all the small banks in the city will before the day closes take advantage of the sixty day law. According the officials of all but the two national banks that closed yesterday, there is no cause alarm as the banks were placed the hands of examiners to protect depositors. many rumors were afloat throughout the morning that was impossible to check half of them. Employes offices and laborers (Continued Page Three)